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Forex Reserves Decline $4.5 Billion To Over Two-Year Low After Brief Halt
Forex Reserves Decline $4.5 Billion To Over Two-Year Low After Brief Halt Forex reserves have nosedived over $100 billion since late February India's foreign exchange reserves fell to over a two-year low in the week ending October 14 as the Reserve Bank of India defended the rupee from sharp declines against a surging dollar. In the week ending October 14, the country's FX reserves fell $4.5 billion to $528.367 billion, from $532.868 billion in the week prior when they surprisingly rose $0.2 billion, according to the weekly statistical supplement data from the RBI. Forex reserves have nosedived over $100 billion since Russia invaded Ukraine late in February, with the country's import cover down nearly $114 billion from its peak late in October last year. Source - NDTV
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